Acetonitrile Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3533
Acetonitrile Market size is likely to witness a significant upsurge in the next 6-7 years due to growing demand for plastic products. It is majorly utilized to obtain pure acrylonitrile and Acrylonitrile Butadiene Styrene (ABS) plastic through polymerisation offering superior tensile & impact strength and chemical resistance which should accelerate industry growth.
It is a chemical compound which is colourless, volatile, flammable and toxic solvent. It is obtained in acrylonitrile production as by- product. This chemical offers superior miscibility with alcohol, epoxy resin and acetone without epoxy polymerisation interference should accelerate industry growth. Rising utilisation in pharmaceutical industry as reagent, reaction and extraction solvent for new medicine synthesis should accelerate the acetonitrile market demand.
Derivative type acetonitrile market size is anticipated to rise significantly in projected timeframe owing rising Vitamin B1 & sulfa pyrimidine production to facilitate growing nutrition and antibacterial medication demand. Rising product demand for derivative type as starting material for chemical synthesis including alpha-naphthyl acetic acid, thiamine, acetophenone, and acetomidine should accelerate industry growth.
Solvent type acetonitrile market may witness a steady demand over forecast period. Rising solvent demand for high performance liquid chromatography owing to high dipole moment and dielectric constant should propel industry growth. This solvent in liquid chromatography influences interaction between sample component and adsorbent during separation process of chiral systems which should propel product demand. In addition, increasing product demand for insulin and antibiotics production should boost industry growth.
Global agrichemicals market may surpass USD 300 billion by 2025 owing to rising demand for crop protection chemicals including fungicides, herbicides, and insecticides. Growing demand for animal fodder along with crop fibre in textile manufacturing should boost agrichemicals demand. Acetonitrile is widely utilised for agrichemical synthesis which should boost the acetonitrile market growth.
Excessive human exposure to acetonitrile may result to respiratory, cardiovascular and central nervous system damage due to cyanide formation in the body that should hamper product demand.
North America, led by Mexico, Canada and the U.S. acetonitrile market size, is anticipated to rise significantly in the projected time period. Growing chemical industry due to increasing domestic oil production, abundant feed stock and energy. Rising acetonitrile demand for inorganic chemicals production including acetamidine hydrochloride, thiamine, and α?napthaleneacetic acid should stimulate industry growth.
Europe, driven by UK, Spain, Italy, France and Germany acetonitrile market may observe steady gains due to rising pharmaceutical industry supported by innovative product launch and favourable regulatory environment. Rising new stream of potential medical will support pharmaceutical industry growth that should promote acetonitrile demand for chemical synthesis in medical formulations. Supportive government initiatives by European union including PRIME (PRIority MEdicines) scheme aiming to strengthen support for targeting unmet medical needs should foster pharma products demand, thus driving acetonitrile regional market growth.
Asia pacific, led by Australia, South Korea, Japan, China and India acetonitrile market is anticipated to experience significant growth in agricultural industry. India is the largest producer of pulses, rice, wheat, spices and spice products. Supportive government initiatives including National Food Security Mission (NFSM) aiming to expand rice, wheat, pulses and coarse cereals should propel agrichemical demand, thus driving acetonitrile regional market growth.
Global acetonitrile market share is moderately fragmented. The key players operating in the market includes AnQore, Avantor Performance Materials, Honeywell International Inc., Imperial Chemical Corporation, J.T. Baker Chemicals INEOS, Purification Technologies, Inc., AlzChem AG, BP Chemicals,Nova Molecular Technologies, Asahi Kasei Medical Company Limited, CNPC Jilin Chemical, Dupont, Sterling Chemicals, , GFS Inc., Achemica, Continental Industries Group., NeuChem and Filo Chemical.
Companies are majorly focusing on innovation, increasing production capacities, acquisitions and mergers to cater worldwide product demand. In 2015, VWR acquired Purification Technologies. VWR is an American based laboratory products, services and solution provider and Purification technologies Incorporation (PTI) is a specialty solvent company that facilitate large volume purification of high purity solvents. Through, this acquisition VWR can enhance its laboratory and chemical production portfolio in order to cater wide range of customers through the globe.
Initiatives along with competitive pricing may support increase in market share over projected time frame. Manufacturers are extensively investing in new production techniques to produce sustainably and reduce environmental degradation.
Innovative manufacturing techniques including recycled acetonitrile production from anhydrous & aqueous wastes and through ethanol ammoxidation. Acetonitrile production through ethanol ammoxidation is a process through which chemical is produced through renewable resources. This process offers beneficial attributes including low ammonia consumption, eco-friendly, limited resource usage and high yield. Ultra-pure acetonitrile production with lower metal content which helps in better chemical analysis and product quality, thus these factors are driving industry growth.
Acetonitrile Market, By Application, 2014-2025 (Tons) (USD Million)
- Derivative type acetonitrile
- Solvent type acetonitrile
Acetonitrile Market, By Application, 2014-2025 (Tons) (USD Million)
- Analytical chemistry
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Avantor Performance Materials
- Honeywell International Inc
- Imperial Chemical Corporation
- Nova Molecular Technologies
- Asahi Kasei Medical Company Limited
- CNPC Jilin Chemical Corporation Limited
- AlzChem AG
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